Keywords share up after US acquisition
Shares in Irish video-gaming company Keywords Studios increased by more than 1.3pc to £18.32 in afternoon trading on the London Stock Exchange yesterday, after the company announced the acquisition of Hollywood-based Blindlight for a total consideration of $10m (€8.5m).
Founded in 2001, Blindlight works on behalf of game publishers and developers in procuring specialised talent and managing the production processes for the parts of video games that benefit from Hollywood production resources.
Blindlight achieved average earnings of $1m (€850,000) per year over the three-year period to December 31, 2017.
Its service disciplines include voiceover production, celebrity acquisition and rights management, game writing, music, sound design and motion capture.
"Keywords and Blindlight have got to know each other well over the past three years and we see good opportunities to leverage both businesses to offer a wider range of world- leading services to our clients," Andrew Day, chief executive officer of Keywords Studios, said.